• Tamboran to farm down ~10,000 acres across Pilot Area and BCDA to Daly Waters Energy (DWE)
• Farm-in agreement provides for a staged earn-in of up to ~US$28.5 million
• Transaction recognizes value premium on Beetaloo acreage as it is defined and matured

Tamboran Resources Corporation has executed a Farm-in Agreement with Formentera Partners, the owner of Daly Waters Energy, LP (DWE), to advance development of the Beetaloo Basin in Australia's Northern Territory. Under the agreement, Tamboran will farm down approximately 10,000 acres of its working interest across the Shenandoah North Pilot Area, the Shenandoah South Pilot Area, and the Beetaloo Central Development Area (BCDA) to DWE. The Farm-in Agreement provides for a staged earn-in, up to ~US$28.5 million, subject to structured off-ramp provisions. The transaction follows DWE's announcement of a strategic joint venture with INPEX Corporation, Japan's largest E&P company and operator of the Ichthys LNG project. The agreement recognizes the value premium that can be realized on Beetaloo acreage as it is defined and matured, as well as the value that can be realized for adjacent appraisal areas. Completion of the transaction is subject to certain conditions precedent, including the closure of Tamboran's Falcon acquisition. The transaction allows Tamboran to accelerate activity while preserving balance sheet strength and maintaining operatorship of its core assets. Tamboran's Phase 2 Development Area farm-out process is ongoing, and the company expects to provide additional updates in due course.

The additional investment supports local jobs, infrastructure development and long-term energy security for the Northern Territory, while keeping Tamboran on track for first gas in the third quarter of 2026. The company remains excited about the scale of the opportunity ahead.